Harvard Bioscience (NASDAQ:HBIO) Cut to “Hold” at StoneX

StoneX lowered shares of Harvard Bioscience (NASDAQ:HBIO) from a speculative buy rating to a hold rating in a research note released on Wednesday, MarketBeat reports.

A number of other brokerages have also recently issued reports on HBIO. Benchmark increased their target price on Harvard Bioscience from $6.00 to $7.50 and gave the stock a “speculative buy” rating in a report on Wednesday, August 12th. Weiss Ratings raised Harvard Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, Zacks Research assumed coverage on Harvard Bioscience in a research report on Tuesday, November 3rd. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.75.

Harvard Bioscience Stock Up 1.8%

Harvard Bioscience stock opened at $9.39 on Wednesday. The company’s fifty day simple moving average is $8.34 and its 200-day simple moving average is $6.58. The company has a debt-to-equity ratio of 7.28, a quick ratio of 0.98 and a current ratio of 1.76. Harvard Bioscience has a 12 month low of $4.00 and a 12 month high of $10.20.

Harvard Bioscience (NASDAQ:HBIO) last issued its quarterly earnings data on Tuesday, November 10th. The medical instruments supplier reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. The business had revenue of $22.20 million for the quarter, compared to analyst estimates of $21.80 million. Harvard Bioscience had a negative return on equity of 43.94% and a negative net margin of 13.20%. On average, sell-side analysts predict that Harvard Bioscience will post -2.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Harvard Bioscience stock. Meros Investment Management LP purchased a new position in shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 182,992 shares of the medical instruments supplier’s stock, valued at approximately $1,125,401. Meros Investment Management LP owned about 4.02% of Harvard Bioscience as of its most recent SEC filing. Institutional investors and hedge funds own 80.87% of the company’s stock.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc. (NASDAQ: HBIO) develops, manufactures and supplies specialized tools, equipment and consumables used in biomedical research, drug discovery and related life science applications. Its products support work in areas such as cell biology, electrophysiology, gene delivery, organ-on-chip research and preclinical studies. The company’s portfolio includes laboratory instruments, tissue and organ perfusion systems, electrophysiology equipment, cell and molecular biology products, and related consumables.